Growth Economy Venture Challenge - Nokia announces $1m competition for mobile apps designed for poor

Nokia announced a $1 million competition for developers to make mobile applications to improve the lives of people living on less than $5 day. The winner of the Venture Challenge will be announced in June and receive a $1 million investment from the Finnish maker of mobile phones. President and Chief Executive Olla-Pekka Kallasvuo made the announcement at the morning keynote on this second day of the Consumer Electronics Show, turning the talk from the latest gadgets to upward mobility in emerging markets. The message was a refreshing dose of humility at a conference often relentlessly focused on making people buy bigger televisions. "I want to put our money where our mouth is," said Kallasvuo. "We want you to come up with new ways to improve people's lives and encourage upward mobility around the world." Details of the competition can be found at the link above. The deadline to enter is April 18.